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Unformatted text preview: Valuation or Allocation 5. Check clerical accuracy of detail schedule. 6. Trace beginning balances to prior year's working papers. 7. Trace ending balances to trial balance. 8. Compute gain/loss on sales and trace to appropriate income statement accounts. 9. Determine propriety of any income recorded and tie out to income statement accounts. (Q-5). 10. Determine market value of securities at year-end and adjust for change in market value as appropriate. Presentation and Disclosure 11. Discuss the classification of securities with management and reclassify if necessary. 12. Consider the disclosure of details associated with marketable securities and investments....
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- Spring '08